MIRA INFORM REPORT
|
Report No. : |
342630 |
|
Report Date : |
25.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
WELSUIT GLASS AND CERAMICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Padra-Jambusar Highway Road, Near D.G.S. Gas Station, |
|
Tel. No.: |
91-2662-245182 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
16.02.1996 |
|
|
|
|
Com. Reg. No.: |
04-028852 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26109GJ1996PTC028852 |
|
|
|
|
IEC No.: |
3406001220 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDW00055G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACW1720G |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Subject is engaged in the business of manufacturing of ceramic
glaze frits. |
|
|
|
|
No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
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Litigation : |
Clear |
|
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|
Comments : |
Subject is an established company incorporated during the year 1996
and it is the manufacturer and exporter of ceramic glaze frits. It has satisfactory
track. As per financial of the year 2014, company possesses above average
operational performance with decent profit margins. Further, rating takes into account of company’s good financial risk profile
supported by adequate networth base and favourable gap between trade payables
to its receivables. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term bank facilities : BB- (Suspended) |
|
Rating Explanation |
Inadequate credit quality and high credit risk. |
|
Date |
June 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term bank facilities : A4 (Suspended) |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
June 2014 |
Reason for suspension: Absence of requisite
information.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Ashok Hargun Bhambhani |
|
Designation : |
Managing Director |
|
Contact No.: |
91-9879855996 |
|
Date : |
24.09.2015 |
LOCATIONS
|
Registered Office / Unit
1 : |
Padra-Jambusar Highway Road, Near D.G.S. Gas Station, |
|
Tel. No.: |
91-2662-245182 |
|
Mobile No.: |
91-9879855996 (Mr. Ashok Hargun Bhambhani) |
|
Fax No.: |
91-2662-245040 |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
Locality: |
Industrial |
|
|
|
|
Unit 2: |
Survey No. 396/1-2, Amod-Dahej Road, Village – Achhod, Taluka: Amod District: Bharuch - 392110, Gujarat, India |
DIRECTORS
AS ON 19.08.2014
|
Name : |
Mr. Hasmukhbhai Mangaldas Thakkar |
|
Designation : |
Director |
|
Address : |
251 Shrinagar Society, Gokulnagar, Himatnagar - 383001, Gujarat, India |
|
Date of Birth/Age : |
27.08.1962 |
|
Date of Appointment : |
10.06.2013 |
|
DIN No.: |
01434452 |
|
|
|
|
Name : |
Mr. Ashok Hargun Bhambhani |
|
Designation : |
Managing Director |
|
Address : |
Block No. A- 5/17, Sant Kanwar Colony, Warsia, Vadodara - 390006, Gujarat, India |
|
Date of Birth/Age : |
11.03.1989 |
|
Date of Appointment : |
13.10.2007 |
|
DIN No.: |
01824201 |
|
|
|
|
Name : |
Mr. Balkrishna Mangaldas Thakkar |
|
Designation : |
Whole-Time Director |
|
Address : |
254-B, Srinagar Society, Mahavirnagar, Himatnagar - 383001, Gujarat, India |
|
Date of Birth/Age : |
03.09.1969 |
|
Date of Appointment : |
18.10.2007 |
|
DIN No.: |
01824203 |
|
|
|
|
Name : |
Mrs. Bhawana Gaurav Thakkar |
|
Designation : |
Director |
|
Address : |
251, Shrinagar Society, Gokulnagar Mahavirnagar, Sabarkantha, Himatnagar - 383001, Gujarat, India |
|
Date of Birth/Age : |
27.04.1989 |
|
Date of Appointment : |
10.06.2013 |
|
DIN No.: |
06604361 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 19.08.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Hasmukhbhai Mangaldas Thakkar |
37797 |
7.56 |
|
Ashok Hargun Bhambhani |
147490 |
29.50 |
|
Balkrishna Mangaldas Thakkar |
147500 |
29.50 |
|
Bhawana Gaurav Thakkar |
51000 |
10.20 |
|
Upesh Hasmukhbhai Thakkar |
116203 |
23.24 |
|
Deepakbhai Rasiklal Mehta |
10 |
0.00 |
|
Total |
500000 |
100.00 |
AS ON 28.03.2015
|
Names of Allottees |
|
No. of Shares |
|
Hasmukhbhai Mangaldas Thakkar |
|
17220 |
|
Ashok Hargun Bhambhani |
|
12390 |
|
Balkrishna Mangaldas Thakkar |
|
12390 |
|
Total |
|
42000 |
AS ON 19.08.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing of ceramic glaze
frits. |
|
|
|
|
Products : |
Ceramic glaze frits |
|
|
|
|
Brand Names : |
Not Available |
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|
|
|
Agencies Held : |
Not Available |
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|
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Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
Bangladesh |
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Imports : |
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|
Products : |
Raw Material |
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Countries : |
|
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Terms : |
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Selling : |
Cash and Cheque |
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Purchasing : |
Cash and Cheque |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Retailers, End Users
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No. of Employees : |
40 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
B.N. Gandhi and Company Chartered Accountants |
|
Address : |
502/B, Manubhai Tower, Opposite Arts Faculty, Sayajigunj, Vadodara –
390005, Gujarat, India |
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Tel. No.: |
91-265-2361082 |
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E-Mail: |
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PAN No.: |
ACXPG1499P |
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|
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Memberships : |
Not Available |
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|
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Collaborators : |
Not Available |
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Group Company (Confirmed by the management) : |
Astron Zircon |
CAPITAL STRUCTURE
AFTER 19.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
542,000 |
Equity Shares |
Rs.10/- each |
Rs.5.420 Million |
AS 19.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500,000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500,000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
5.000 |
5.000 |
3.300 |
|
(b) Reserves &
Surplus |
115.089 |
96.765 |
55.063 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
120.089 |
101.765 |
58.363 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.859 |
2.362 |
5.336 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.859 |
2.362 |
5.336 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
301.148 |
179.966 |
218.177 |
|
(b) Trade payables |
103.974 |
121.777 |
74.275 |
|
(c) Other current
liabilities |
6.010 |
9.068 |
9.793 |
|
(d) Short-term provisions |
0.023 |
0.019 |
0.018 |
|
Total Current Liabilities
(4) |
411.155 |
310.830 |
302.263 |
|
|
|
|
|
|
TOTAL |
532.103 |
414.957 |
365.962 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
114.158 |
40.737 |
46.788 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
1.701 |
2.701 |
0.001 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
6.366 |
5.263 |
0.273 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
122.225 |
48.701 |
47.062 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
48.061 |
120.702 |
73.770 |
|
(c) Trade receivables |
323.993 |
231.285 |
216.605 |
|
(d) Cash and cash
equivalents |
34.171 |
12.439 |
28.010 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
0.000 |
|
(f) Other current assets |
3.653 |
1.830 |
0.515 |
|
Total Current Assets |
409.878 |
366.256 |
318.900 |
|
|
|
|
|
|
TOTAL |
532.103 |
414.957 |
365.962 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Gross Income |
777.969 |
671.475 |
498.939 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
55.796 |
49.756 |
49.070 |
|
|
|
|
|
|
|
Less |
INTEREST |
22.767 |
19.376 |
22.047 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
33.029 |
30.380 |
27.023 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
5.481 |
5.686 |
3.025 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
27.548 |
24.694 |
23.998 |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
27.548 |
24.694 |
23.998 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
55.10 |
49.39 |
NA |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
1370.000 |
Expected Sales ( 2015-2016 ) : Rs.1500.000 Million
The above information has been parted by Mr. Ashok Hargun Bhambhani
(Managing Director).
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current
Maturities of Long term debt |
|
|
|
|
State Bank of India Term loans A/c |
0.000 |
4.800 |
4.800 |
|
State Bank of India Loans – A/C (Swift Dzire Vdi) |
0.081 |
0.138 |
0.000 |
|
Kotak Mahindra Prime Limited |
0.749 |
0.672 |
0.000 |
|
Total |
0.830 |
5.610 |
4.800 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
3.54 |
3.68 |
4.81 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
7.17 |
7.41 |
9.83 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.19 |
5.99 |
6.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.24 |
0.41 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.52 |
1.85 |
3.91 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.00 |
1.18 |
1.06 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
3.300 |
5.000 |
5.000 |
|
Reserves & Surplus |
55.063 |
96.765 |
115.089 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
58.363 |
101.765 |
120.089 |
|
|
|
|
|
|
long-term borrowings |
5.336 |
2.362 |
0.859 |
|
Short term borrowings |
218.177 |
179.966 |
301.148 |
|
Current maturities of
long term debt |
4.800 |
5.610 |
0.830 |
|
Total borrowings |
228.313 |
187.938 |
302.837 |
|
Debt/Equity ratio |
3.912 |
1.847 |
2.522 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Gross Income |
498.939 |
671.475 |
777.969 |
|
|
|
34.581 |
15.860 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Gross Income |
498.939 |
671.475 |
777.969 |
|
Profit |
23.998 |
24.694 |
27.548 |
|
|
4.81% |
3.68% |
3.54% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
--- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last four years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
--- |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATIONS IN
RETROSPECT:
During the year, Gross Income of the Company reached to Rs.777.969 Million against Rs. 671.475 Million of previous year, whereas Net Profit after Tax reached to Rs. 27.548 Million against Rs. 24.694 Million of the previous year witnessing significant growth.
The Company has been continuing to put thrust on sincere endeavor to continue to expand its clientele base by enlarging the scope of activities with a conscious attempt to minimize the operating costs thereby to generate more surpluses in coming years. The Board hopes that with systematic and planned approach with the continual thrust on bringing all round efficiency and affectivity in the operational management, the Company would register better performance in coming years, barring unforeseen circumstances.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Loans and
Advance from related parties |
|
|
|
Ashok Hargun Bhambhani |
4.516 |
0.000 |
|
Balkrishna Mangaldas Thakkar |
8.398 |
0.000 |
|
Hasmukhbhai Mangaldas Thakkar |
6.600 |
0.000 |
|
Honey Upeshkumar Thakkar |
15.000 |
0.000 |
|
Shushilaben Hasmukhbhai Thakkar |
21.006 |
0.000 |
|
Upesh Hasmukhbhai Thakkar |
7.400 |
0.000 |
|
Other loans and
Advances |
|
|
|
Mehta Finance |
16.797 |
15.500 |
|
Shree Guru Dev A/c |
0.000 |
0.000 |
|
Shri Nethji Bava A/c |
0.000 |
0.000 |
|
Total |
79.717 |
15.500 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90096823 |
20/10/2014 * |
347,500,000.00 |
STATE BANK OF INDIA |
CHOKSHI BAZAR, PADRA, VADODARA 391440, GUJARAT, INDIA |
C30793848 |
* Date of charge modification
FIXED ASSETS
- Leasehold
Land
- Building
- Office
Building
- Factory
Building
- Plant and
Machinery
- Office
Equipments
- Computer
- Furniture and
Fixtures
- Vehicle
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.09 |
|
|
1 |
Rs.100.88 |
|
Euro |
1 |
Rs.73.96 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.